Get your affairs in order before quitting that lousy job
CHANCES are, you have had at least one job that could easily make the list of all-time lousiest jobs. Unfortunately, even while most of us wish we could just up and leave, especially after a frustrating workday, we just don’t have that luxury.
If you are serious about quitting your job, then financial advisor Granville Knight Jr, who made the mistake of leaving his job in 2017 in the absence of a back-up plan, cautions that you may want to make sure that you put your affairs in order before you jump ship.
“It is estimated that an adult will change jobs at least five times in their life. I’m sure the idea of [dropping] everything and pursuing your dreams may seem exciting and adventurous, but most who have done this have met with a harsh reality,” Knight said.
“I am one of those people. I did this stupid thing once, too. I quit my job without notice or planning. What resulted was a period of financial difficulty. My loans became bad credit and ruined my credit history. When I finally got into the area I wanted, no one would give me anything on credit. And I had to tough it out until I was financially wise,” he told All Woman.
But what exactly should the process of preparing to quit your job entail? Knight has shared what he would have done differently if he had a do-over:
Make sure the new job is confirmed
Too often we do things without thinking it through. We need to think things through to the end. You can’t discontinue earning and expect to live a full life. Have your confirmation in the second job before calling it quits.
Save money
An important part of a sound financial plan is having an emergency fund. Part of its function is to be able to fund your life for a full three months at least. If this is in force you can quit your job with immediate effect.
“I believe that any working professional shouldn’t take longer than three months to get a second job. If you can’t it simply means you weren’t networking right and you need to revisit this aspect of your profession,” Knight advised.
Refresh your CV/networking
Make sure that you update your résumé, make it more attractive, proofread it, and begin to send résumés out if you don’t have a job lined up. Your LinkedIn profile is a good place to start when seeking recommendations. Most importantly, learn to make your network work for you.
Don’t slack off at work
You want to make sure that even while your job may be lousy, that you give it your best shot. Some employers, before taking you on, may decide to reach out to your current/immediate past employer for a recommendation.
Take care of your financial obligations
Reach out to your financial advisor and let him know that payments to your investments and insurance will be suspended from the current employer. Make sure that you take care of loans and communicate with financial institutions. Your emergency fund will also come in handy in managing this aspect of your transition.
Give your employer sufficient notice
Two weeks’ notice is usually a decent time. However, you may want to check your contract of employment for the notice period the company requires.
